Home Selling in 30179>Question Details

Elizabeth, Home Seller in Temple, TX

Is this a bad idea?

Asked by Elizabeth, Temple, TX Wed Jul 9, 2008

Just wanting some advice and "I know how you feel" comments! We are considering leaving the house in GA and going ahead and move to AL(live with the family)until our house sales. We would leave it furnished not only to help keep it "staged", but also to prevent us from moving everything twice. Currently we have a contig. on a home pending our house sales in GA. We are both going to start looking for job,ideally would like to be there by August to get our child in the school system. I also need to inform my current employeer of the move asap. We dont want to put the cart before the horse, but I fear the house selling b/f we have a job also.Do you look for a job b/f you sell, or sell and then find a job?HELP, with some ideas here! I am certain that I am not the only person that has been in this situation!! How soon can we expect our house to sell. We would be content just to get out of the mort. 154,900 Temple GA 4/3.5 Listed w/ Keller Williams Only 1 showing in a month :( Just reduced

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7
To accomplish everything you want you need to be aggressive on the sale of the GA home. Make it the most attractive house on the market to attract the next buyer in that local market. How do you do that you ask, and you aren't alone in this question. Make it look better than the competition in every forum it is seen. Pictures on the MLS to the curb appeal and viewings to the rear yard. Then make the price the most attractive when comparing everything you have or don't have when the next buyer is looking.
It's not hard but it takes guts and a very realistic eye on the market. Go for it and be viciously realistic on the value of the property, but it look so sweet to the next buyer that they can't help but come to you.
1 vote Thank Flag Link Fri Jul 11, 2008
Jed Lane; Fog…, Real Estate Pro in San Francisco, CA
MVP'08
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Elizabeth
I think tha tlast sentenced in your post was cut off. You just reduced the price on your home, and with only one showing in 30 days, that is probably late, should have been done earlier. You need 10-12 showings in the first two weeks to get an offer I in most markets, yours may be different).

To the moving question, it sounds from your post that you need to move to Alabama, so that has to have first priority.
However, in the career world there is a saying "don't quit a job until you have your new job". Would it make sense for one of you to continue working until the other finds a job in Alabama? Certainly something to think about.

Also, the method of departure from your current job, is there a possibility that one or both employers might want to negotiate when you leave (until they find a replacement, for example). I don't know your profession or position, but leaving in a way that will allow your employers to provide you with good references is key to obtaining your next job.

Then there is qualifying for financing your next home. It appears that you have made an offer on a home in Alabama contingent on your home in GA selling. As long as everyone is happy with that arrangement, my suggestion is to be aggresive about selling your home in GA. You need showing activity to get offers, so if you do not see 10-12 showings in the next two weeks, another adjustment is in order.

So far as the purchase goes, what will happen when the lender checks with your employers and finds out that you've resigned? I'd make sure I had the financing end in place before I got too far along.

Hope this is helpful.
1 vote Thank Flag Link Wed Jul 9, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Ideally you would not want to take the risk on being responsible for 2 mortgages with no jobs. The risk of your home not selling for a good price before school starts is high. You would need to assess the likely hood of getting suitable job offers in AL. Here is what I would do: Stay put for the time being and try to get job offers in AL. If suitable job offers appeared, I would take them, move in with the family, then accelerate the effort on selling the house in GA, by reducing the price to the absolute lowest you can take. When the GA house closes, that's when I would start looking for another house.
1 vote Thank Flag Link Wed Jul 9, 2008
Hi Elizabeth:

If you have you mind set about moving to AL to be with the fafmily, then you are right to go ahead and put the house on the market, which seems to me you have already done so. The reason is because it takes a long time to sell now a days and you already have a house under contract pending sale of your home.

That said, you should start looking for job now, both of you, and see what you can find. I assume you researched job market already and feel you can find a job - due to the economy, job market is tough also.

If you somehow sold the house but do not have a job, wil you be able to pay the mortgage on the new home? If so, how long can you sustain that? Several months, a year, ? If not, what is your backup plan?

Those are the things you should consider.

Sylvia
1 vote Thank Flag Link Wed Jul 9, 2008
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
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Why are you willing to move b/4 you sell?
0 votes Thank Flag Link Thu Jul 25, 2013
Elizabeth,
How long can you keep up with the mortgage payments on your current home in GA shold you not be able to get a job in AL right away? You may have your home on the market for a while and you must expect this. If your pictures are excellent and inviting and your home is showing well then great! The PRICE factor is the huge part of the sale these days, more and more people are being very conservative right now and your home must be priced right and be the best of evereything that it can be compared with in your subdivsion or immediate area. The marketing plan has to be top notch as well.
Best of luck to you.
Web Reference: http://www.torilawson.com
0 votes Thank Flag Link Fri Jul 11, 2008
At the expense of sounding blunt here, if you've only had one showing in one month, then your home is considerable overpriced. most likely by at least 15% if not more. I personally think that's what you need to address first, what if you move, have two great jobs, then can't get out from under your home?

Just my $.02. I can afford to be blunt because I'm not in your area, thus I don't run the risk of listing your home ;)

-John Mizerek
RE/MAX Pros, Westlake, OH
0 votes Thank Flag Link Wed Jul 9, 2008
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